Released in 2011, cTrader is a trademarked platform which was created by Spotware Systems, a Cyprus based company which has developed seven trading applications including five trading channels of their flagship cTrader platform and two supplementary platforms which are cMirror for mirror trading and cAlgo for developing, testing and running trading robots and custom indicators. All 7 platforms are fully integrated and synchronized with each other. The cutting-edge system provides various types of alerts, tickets with descriptions of a trader’s actions, a map that analyzes past deals; over 70 indicators and a market watch that shows level two pricing for each symbol.
Once you create a cTrader ID, then you can save a list of favorite symbols, chart templates and develop distinctive layouts for the platform. Additionally, you may link your account with profiles from social media networks and third-party software programs that provide statistics, some of which are already integrated inside the platform.
Trading Markets Offered
When cTrader was first released it was solely an FX trading platform designed to connect traders to banks and liquidity providers via FIX Protocol, and ultimately provide traders a true non-dealing desk environment. In recent years the platforms capacity has grown to support multiple asset classes.
You will see a distinction between the brokers offering cTrader and the range of markets they offer in the platform. Some remain strictly FX while others are offering thousands of symbols which mostly cover equities and indices CFDs from the United States, Europe and Asia Pacific. Most brokers are offering Oil and Metals CFDs along with an average of 60 FX symbols.
Users can easily drag and drop order lines from the top of the chart or a position on the chart which will determine the stop-loss price and the take profit of any position or pending order. The platform is able to process orders simultaneously, and instead of creating a queue proving that it is a very powerful platform.
An investor can modify or move almost any component of the platform and even undock panels and dock in a more convenient place, detach most elements, including charts and choose from one of three chart modes. Traders may also add custom indicators to the system.
Traders are also able to download and use free user submitted indicators and cBots from Spotware’s cTrader Developer Network know as www.ctdn.com and other independent forums and well-known blogs provide. Additionally, a client can utilize cAlgo in order to develop trading robots that are compatible with cTrader.
For every position, deal or order made by the user, up to 50 fields of information are stored in the ticket. Any modification will also be recorded in the relevant ticket in the form of a time line and kept indefinitely.
The system has many categories of indicators to complement each other and help to predict the future values of currencies. Users are able to analyze economic news that a broker may provide through the platform. The platform features 26 time frames and 13 tick charts, these tools let investors evaluate the number of trades that are taking place, price movement and market behavior. Tick charts will typically generate one bar for 144 ticks; however, an investor can opt to create a single graphic for 233 ticks or 610 ticks. The platform also has graphs that analyze total volume.
When using technical analysis, an investor can access oscillators, drawings that indicate the exact movements of lines and measures of volatility, and some indicators also evaluate the previous trends of a currency pair. When examining the data, traders may customize graphs or choose among three standardized layouts and three viewing modes.
The platform can produce snapshots of various charts and may automatically save each image. Subsequently, you will be able to easily add a snapshot to your website, a blog’s comments and many social media networks. Moreover, a trader can view a list of previous orders, and the checklist will show the profits or losses that each transaction generated.
Site Strengths/ Weaknesses
Unlike most systems, cTrader allows users to modify or remove many components of the platform with ease. Once a custom layout has been created, a trader can save the template or add it to the list of favorites and switch between many.
Although cTrader has received thousands of positive reviews, some investors have trouble performing a trailing stop, which is a stop-loss order that commonly fluctuates and is based on a currency’s worth. Consequently, more than 50 percent of the brokers that offer cTrader can teach customers how to use the innovative feature.
The platform allows individuals to perform micro trades that have a spread of less than 20 percent of a single pip. Alternatively, a trader can utilize large margins in order to invest an amount that is equal to 50,000 percent of the user’s account balance.
For all brokers the platform is hosted on Spotware’s cloud based infrastructure in Equinix LD5 data center. Each trader connects to Spotware’s global network of proxies which exists to reduce latency for all traders, particularly for those in the Asia Pacific region. Traders can see which proxy they are connecting via by opening the latency tester in the bottom right of the platform.
Currently, cTrader supports 20 languages, such as English, Polish, Arabic, Spanish, French, Russian, Korean, Chinese, Japanese, Italian, Greek and Hungarian.
cTrader has proven to be the best trading platform suite out there. Since 2012, the platform has received numerous awards and positive reviews from FXStreet, Finance Magnates and Citibank. In 2013, FX Week indicated that cTrader was the best platform of the year for making a significant impact in an industry which is so attached to a single, outdated legacy platform.
cTrader can be accessed from any device especially since cTrader Web is configured for mobile devices and tablets from all popular web browsers. All applications can easily be linked to cMirror to take advantage of the mirror trading service to copy successful traders or sell your own strategy to subscribers in the cMirror open environment directly from your preferred cTrader application.
You will find many brokers offering cTrader and maybe your broker already does. An unlimited lifetime demo of the platform is available from Spotware’s website and is completely unaffiliated with any broker. From there you can access demo’s of all seven of their trading applications or go directly to the Google Play or iTunes Store for a premium mobile trading experience.